Harmonized inflation increases in July

Latest reading: Harmonized inflation came in at 2.0% in July, up from June’s 1.9%. Looking at the details of the release, the increase in price pressures was largely driven by a faster rise in prices for food and non-alcoholic beverages. In addition, price pressures for transportation dropped at a slower rate. Accordingly, the trend pointed up mildly, with annual average harmonized inflation coming in at 1.6% in July (June: 1.5%). Meanwhile, consumer price inflation was stable, coming in at June's 0.2% in July. Lastly, harmonized consumer prices increased 0.31% in July over the previous month, swinging back to growth from June's 0.18% fall. July's uptick marked the highest reading since February.

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